Wiley Accounting
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Discussion Topics for Today's Classroom

Taxing Bitcoin

Description: Tax time is rolling around quickly for Canadians. And with all the 2017 hype over Bitcoin, some may be wondering what to do with any income earned in trading the cryptocurrency. The simplest answer: if you trade, keep records; if you make income, declare it.

3) On page 367 of Wiley’s Financial Accounting: Tools for Business Decision Making, there is a discussion of what exactly constitutes cash. Do you think Bitcoin should be treated as cash by accountants?